2Q16 Results

The IR Recognition granted by Bolsa de Valores de Colombia S.A. (the Colombian Stock Exchange) is

not a certification of the registered securities or the solvency of the issuer.

BBVA

COLOMBIA

1 2 3

5

2Q16 Results 1

TAM: 14.9%

Share: 9.74%

Ranking: 4

TAM: 16.3%

Share: 10.35%

Ranking: 4

TAM: 20.7%

Share: 12.10%

Ranking: 4

TAM: 7.8%

Share: 5.42%

Ranking: 6

TAM: 20.0%

Share: 13.22%

Ranking: 3

TAM: 9.5%

Share: 20.87%

Ranking: 2

• Note: Deposits category does not include bonds, Consumer includes Overdraft +Credit Card, Portfolio includes securities, and Mortgage does not include leasing

7

Million COP

BALANCE Total in COP million 2Q15 1Q16 2Q16

Cash 3,410,036 4,081,875 3,838,701

Active Positions in monetary market 1,243,999 2,984,544 830,650

Investment Securities & Derivatives 5,902,902 6,238,145 7,021,289

Loan Portfolio and Leasing Operations 32,966,376 37,445,918 38,369,789

Impairment (1,119,906) (1,315,732) (1,409,510)

Other Assets 1,879,230 2,246,092 2,210,613

Total Assets 44,282,638 51,680,841 50,861,532

Deposits and Financial Claims 37,789,192 43,590,932 43,211,171

Financial Instruments at fair value 732,881 1,178,463 964,373

Banks and other financial obligations 746,826 1,620,713 1,340,022

Accounts Payable 958,262 1,179,164 1,062,998

Labor Obligations 177,586 159,000 166,566

Other Liabilities 353,815 300,747 317,289

Total Liabilities 40,758,562 48,029,019 47,062,418

Suscribed and paid-in capital 89,779 89,779 89,779

Specific Destination Reserves and Funds 1,977,124 2,279,237 2,279,237

Surplus 1,137,665 1,134,429 1,150,130

Gains Or Losses 319,508 148,377 279,968

Stockholder's Equity 3,524,076 3,651,822 3,799,114

Total Liabilities and Stockholder's Equity 44,282,638 51,680,841 50,861,532

Millon COP

8

2Q15 1Q16 2Q16 2Q16/2Q15 2Q16/1Q16

Dif % Dif %

NET INTEREST INCOME 529,313 534,560 514,249 (15,064) (2.8) (20,311) (3.8)

NET COMISSION INCOME 33,216 25,537 29,663 (3,552) (10.7) 4,126 16.2

OTHER OPERATING INCOME 74,040 158,261 168,709 94,670 127.9 10,448 6.6

GROSS MARGIN 636,568 718,358 712,621 76,053 11.9 (5,737) (0.8)

Administration general Expenses (314,851) (347,441) (347,318) (32,467) 10.3 123 (0.0)

NET MARGIN 321,717 370,917 365,303 43,586 13.5 (5,614) (1.5)

Net Asset Allocation (97,342) (144,569) (175,199) (77,857) 80.0 (30,630) 21.2

INCOME BEFORE TAX 224,375 226,348 190,104 (34,271) (15.3) (36,244) (16.0)

Income Tax (85,248) (77,971) (58,516) 26,732 (31.4) 19,455 (25.0)

Net Profit 139,127 148,377 131,588 (7,539) (5.4) (16,789) (11.3)

Activity 2

10

32.90%

42.51%

21.28%

2Q2015

33.29%

43.20%

20.08%

1Q2016

33.93%

42.18%

20.02%

2Q2016

10,846 12,430 13,019

2Q2015 1Q2016 2Q2016

14,013

16,128 16,183

2Q2015 1Q2016 2Q2016

7,015

7,499

7,680

2Q2015 1Q2016 2Q2016

11

13.6%

48.5%

30.6%

2Q2015

11.8%

51.4%

34.3%

1Q2016

11.3%

44.5%

41.6%

2Q2016

2,465

2,917

2,668

2Q2015 1Q2016 2Q2016

17,191

21,152

18,155

2Q2015 1Q2016 2Q2016

10,870

14,121

16,959

2Q2015 1Q2016 2Q2016

12

0.98 0.89 0.97 1.08

1.68 1.55

1.77 1.56

jun-15 dec-15 mar-16 jun-16

COMMERCIAL

2.34 2.41 2.61

2.83

3.22 3.01

3.13 3.22

jun-15 dec-15 mar-16 jun-16

CONSUMER

1.58 1.58 1.71

1.87

2.21 2.09

2.27 2.19

jun-15 dec-15 mar-16 jun-16

1.86 2.07

2.14 2.25

2.20

2.35 2.44

2.50

jun-15 dec-15 mar-16 jun-16

Mortgage

13

3 Equity

8.15 7.03

7.64 7.33

14.82

13.58 13.37 13.02

Jun-15 Dec-15 Mar-16 Jun-16

2,704 2,704 3,010 2,981

2,205 2,512 2,251 2,308

Jun-15 Dec-15 Mar-16 Jun-16

TIER I TIER II

Email:

bbvacolombia-ir@bbva.com

Investor Relations Team:

Mario Nigrinis Ospina

mario.nigrinis@bbva.com

ALM Treasurer - IR

Juliana Pardo

Tel 3471600 ext 11458

juliana.pardo@bbva.com

IR – Senior Officer

Bogotá, Colombia.

BBVA Colombia S.A.

The IR Recognition granted by Bolsa de Valores de Colombia

S.A. (the Colombian Stock Exchange) is not a certification of the

registered securities or the solvency of the issuer.

1.311 528 6.064

8.176

https://info.bbva.com/es/noticias/economia/bbva-colombia-60-anos-historia/

BANCO BILBAO VISCAYA ARGENTARIA Colombia S.A

BALANCE SHEETJune 30th 2016

(Million COP)#

ASSETS Jun 2015 Mar 2016 Jun 2016 LIABILITIES AND SHAREHOLDERS EQUITY Jun 2015 Mar 2016 Jun 2016

Cash and cash equivalents 4,654,954 7,067,602 4,674,651 Deposits 33,243,394 40,581,211 40,107,537

Cash and Deposits in Banks 3,410,954 4,083,058 3,844,001 Checking Accounts 22,373,589 26,460,177 23,148,107

Active Positions in monetary market 1,243,999 2,984,544 830,650 Term Deposits 10,869,805 14,121,034 16,959,430

Investments 5,211,629 5,134,919 6,042,327 Money Market Operations 2,191,747 496,226 631,089

Investments at fair value through profit or loss 3,115,657 1,961,313 1,895,251

Investmens at fair value affecting delivered results in money-market operations 563,504 57,485 97,350 Other: 5,101,707 6,774,177 6,170,334

Investments at fair value affecting delivered results in guarantee of derivatives 53,149 104,959 172,683 Derivative Financial Instruments 732,881 1,178,463 964,373

Investments at fair value through profit or loss in OCI 604,863 2,035,172 2,791,789 Trading 732,881 1,120,108 923,218

Investments at fair value through profit or loss in OCI affecting delivered results in money-market operations - 64,273 76,104 Hedging - 58,355 41,155

Investments at fair value through profits or loss in OCI affecting delivered results in guarantee of derivatives - 131,815 166,168 Financial Entities Loans and Other Financial Obligations 746,826 1,620,713 1,340,022

Investments at amortized cost 85,994 669,335 686,507 Outstanding Investment Securities 2,350,199 2,477,056 2,450,707

Investments at amortized cost affecting delivered results in money- market operations 637,897 - - Deferred Tax Liabilities 269,766 293,316 340,897

Investments at amortized cost affecting delivered results in guarantee of derivatives 53,193 - - Accrued Liabilities and Provision 187,558 175,485 180,426

Non controlled afilliates Investments 100,868 114,075 159,982 Accounts Payable 814,477 1,029,143 893,909

Investment Impairment -3,496 -3,507 -3,507

Derivative Financial Instruments And Cash Operations 695,704 1,091,285 967,233 Labor Obligations 178,734 159,921 167,900

Trading 695,704 1,091,285 965,495 Short Term 125,055 71,401 77,187

Hedging - - 1,738 Long Term 53,678 88,520 90,713

Loan Portafolio and Leasing Operations (Net) 32,206,294 36,554,910 37,438,628

Commercial 14,012,236 16,127,147 16,182,528 Other Liabilities 167,008 125,909 137,604

Consumer 10,938,929 12,541,372 13,138,873

Housing 8,000,945 8,783,102 9,060,120 Total Liabilities 40,882,589 48,137,445 47,214,463

Microcredit 13 2 2

Employees 135,155 141,443 146,443

Provision for credit losses -880,984 -1,038,156 -1,089,339 SHAREHOLDERS EQUITY

Paid-in Capital 89,779 89,779 89,779

Loan Portfolio, Interest and Other Concepts (Net) 263,442 301,932 330,036 Non controlled Participations 5,398 5,228 5,535

Commercial 122,508 180,067 187,320 Premium on share placement 651,950 651,950 651,950

Consumer 104,727 122,844 130,283 Reserves 1,978,078 2,279,237 2,279,228

Housing 48,192 50,974 52,148 Net Profit for the period 326,924 162,989 316,417

Microcredit 1 0 0 Net Profit for the period 326,924 151,162 314,737

Other Portfolio Interests 8,879 8,625 8,260 Net Profit last period 11,827 1,681

Provision Interest and Other Concepts -20,866 -60,577 -47,976 Cummulative Results (IFRS Transition Period) - - -

Retained Earnings (IFRS application) 501,806 494,250 490,113

Other: 1,613,237 1,888,782 1,858,320 Article 6 Law 4/80 506 506 506

Advances to Contractors and Other Financial Recipients 145,909 191,302 174,307 Other Comprehensive Income (OCI) 208,229 218,047 263,202

Other Debtors (Net) 360,195 555,499 569,003

Non-Current Assets available for sale 10,636 10,954 15,783 Total Shareholder Equity 3,762,670 3,901,986 4,096,731

Property and Equipment 752,990 741,942 733,168

Leasing Operating Properties 15,851 16,966 16,950 Total Liabilities and Shareholders equity 44,645,259 52,039,431 51,311,194

Goodwill And Other Intangible Assets 242,093 227,441 225,698

Deferred Tax Asset 67,621 81,922 57,409

Prepaid Expenses 15,642 51,218 59,266

Other Assets (Net) 2,300 11,538 6,735

Total Assets 44,645,260 52,039,431 51,311,194

BANCO BILBAO VIZCAYA ARGENTARIA COLOMBIA S.A.

INCOME STATEMENTS

June 30th 2016 (Consolidated)

(Million COP)

Jun 2015 Mar 2016 Jun 2016

Loan Portfolio 1,648,138 1,009,889 2,086,262

Commercial 386,740 274,131 579,245

Consumer 668,615 363,974 750,433

Credit Cad 102,868 80,668 164,235

Microcredit 1 - 0

Housing 373,550 216,679 434,312

Factoring 1,211 2,537 6,318

Operative Leasing 3,451 1,390 2,776

Financial Leasing 65,968 39,244 83,990

Residential Leasing 45,735 31,266 64,954

Interest Expense -599,970 -474,738 -1,036,231

Saving Accounts -265,660 -231,278 -454,819

Term Deposit Certificates -324,825 -233,338 -558,629

Banks and other Financial Obligations -9,233 -10,073 -22,701

Other -252 -49 -83

Net Interest Income 1,048,168 535,151 1,050,030

Comission Income 205,357 108,109 226,274

Comission Expenses -86,008 -65,062 -129,266

Comissions Net Income 119,349 43,047 97,007

Securities 330,698 205,470 459,680

Money-Market Operations 69,373 48,286 103,600

Investments At Fair Value 222,211 90,467 176,313

Investments At Amortized Cost 39,114 66,717 179,767

Speculation Derivatives 2,780,368 2,122,419 3,473,907

Disposals 55,329 68,664 121,199

Sale of Non-Current Assets Held for Sale 474 493 649

Sale of Property, Plant and Equipment 1,200 902 902

Sale of Investments 53,654 67,269 119,648

Difference in Net Change 188,891 -9,682 -3,005

Dividends 11,559 50 10,328

Leases 674 530 1,064

Other - Diverse 22,208 13,851 34,136

Operating Risk 8,135 1,803 3,857

Joint Operations Income 823 585 1,298

Other Operating Income 3,398,685 2,403,689 4,102,464

Net Provision for credit losses -192,404 -143,347 -314,958

Provision refund Loan Portfolio 470,858 232,083 391,699

Provision for Loan Portfolio -663,263 -375,430 -706,657

Non-current assets held for sale provision -939 -1,213 -3,361

Investment Provisions - - -

Property, Plant and Equipment Provision -46 -10 -21

Oher Assets Provisions -3,455 -242 -1,677

Net Asset Allocations -196,845 -144,812 -320,017

Securities -289,084 -139,591 -301,312

Money-Market Operations -139,033 -86,078 -198,373

Investments at fair value -134,862 -44,013 -79,941

Investments at amortized cost -15,189 -9,499 -22,997

Derivatives -2,888,428 -2,077,581 -3,399,223

Speculation Derivatives -2,888,428 -2,063,489 -3,370,436

Hedging Derivatives - -14,091 -28,787

Disposals -44,539 -31,118 -55,282

Sale of Non-Current Assets Held for Sale -2,328 -203 -357

Sale of Property, Plant and Equipment - - -

Sale of Investments -23,300 -29,318 -53,286

Portfolio Sale -18,911 -1,596 -1,639

Other Expenses -641,762 -352,939 -705,758

Management nd intermediation services -393 -177 -396

Systematization -340 -95 -209

Legal -6 -73 -75

Salaries and employee benefits -241,787 -133,888 -269,604

Fees -11,480 -5,229 -9,869

Depreciation and Amortization -44,219 -21,702 -38,526

Taxes -60,528 -30,857 -65,247

Leases -18,144 -9,629 -19,403

Insurance -55,916 -30,437 -62,140

Contributions and Affiliations -4,594 -2,508 -4,857

Maintenance, adjustments and repairs -18,591 -13,306 -22,867

Other - Diverse -182,669 -104,272 -210,746

Operative Risk -2,312 -300 -816

Joint Operations Expenses -782 -465 -1,002

Total Operating Expenses -3,863,812 -2,601,228 -4,461,575

Minority Interest -536 -218 -534

Earnings Before Interest and taxes 505,008 235,629 467,376

Income Tax Expense -178,084 -84,467 -152,639

NET PROFIT 326,924 151,162 314,737

BANCO BILBAO VIZCAYA ARGENTARIA COLOMBIA S.A.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITYFOR THE MONTHS ENDED AS OF June 30, 2016(Amounts stated in millions of Colombian pesos and thousands of shares)

Number Value Number ValueNon controlled Participation

Premium on share Placement

Legal and Ocasional Reserves

Net Profit For the period

Retained Earnings

Other comprehensive Income (OCI)

Article 6 Law 4 of 1980

Balance of December 31 of 2015 479,760$ 2,994$ 13,907,929$ 86,785$ 5,935$ 651,950$ 1,977,124$ 615,346$ 494,718$ 233,935$ 506$ 4,069,293$

Non controlled interst (Minority Interest) - - - - (707) - - - - - - (707) Transfers - - - - - - - (615,346) 615,346 - - - Dividends paid in cash, preferred and common shares - - - - - - - - (301,854) - - (301,854) Appropiation for legal reserve - - - - - - 306,096 - (302,113) - - 3,983 Release of reserves - - - - - - (3,992) - - - - (3,992) Net Profit for the Period - - - - - - - 315,248 - - - 315,248 Retained Earnings Sales Force - - - - - - - - (5,748) - - (5,748) Hedging with derivatives cash flow - - - - - - - - - (19,650) - (19,650) Defined Contributions Pensions - - - - - - - - - - - Participation in he OCI of investments accounted for using the equity method - - - - - - - - - (1,596) - (1,596)

Participation in other comprehensive Income of the noncontrolled investments, internal model - - - - - - - - - 17,888 - 17,888 Securities Available for Sale - - - - - - - - (9,392.00) - - (9,392) Loan portafolio measurements Incurred Loss - - - - - - - - - 57,705 - 57,705 Deferred Tax - - - - - - - - 1,954 (27,559.00) - (25,605) Adjustments for consolidation - - - - - - - - 1,670 - - 1,670

Balance of June 30 of 2016 479,760$ 2,994$ 13,907,929$ 86,785$ 5,228$ 651,950$ 2,279,228$ 315,248$ 494,581$ 260,723$ 506$ 4,097,243$

Total Shareholder Equity

Non-voting preferred shares Ordinary sharesConcept

Suscribed and paid-in capital Retained Earnings Surplus by

- 5 -